Capital International Ltd. CA Takes Position in Spotify Technology S.A. (NYSE:SPOT)

Capital International Ltd. CA acquired a new stake in Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,205 shares of the company’s stock, valued at approximately $1,434,000.

Other large investors have also bought and sold shares of the company. Thrivent Financial for Lutherans raised its position in Spotify Technology by 566.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company’s stock worth $3,541,000 after acquiring an additional 6,782 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Spotify Technology in the 4th quarter worth approximately $1,335,575,000. Marks Group Wealth Management Inc acquired a new stake in Spotify Technology during the fourth quarter valued at approximately $535,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Spotify Technology during the fourth quarter worth approximately $214,000. Finally, Swedbank AB increased its holdings in shares of Spotify Technology by 20.9% in the fourth quarter. Swedbank AB now owns 946,129 shares of the company’s stock valued at $423,279,000 after buying an additional 163,626 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $574.85 on Friday. The firm has a 50 day simple moving average of $575.74 and a 200 day simple moving average of $498.86. Spotify Technology S.A. has a fifty-two week low of $267.76 and a fifty-two week high of $652.63. The firm has a market cap of $117.68 billion, a P/E ratio of 96.61 and a beta of 1.75.

Analyst Ratings Changes

SPOT has been the subject of several research reports. Citigroup raised their price objective on Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. KeyCorp dropped their price target on Spotify Technology from $675.00 to $625.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Barclays upped their price objective on shares of Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Wells Fargo & Company lifted their target price on shares of Spotify Technology from $690.00 to $740.00 and gave the stock an “overweight” rating in a research report on Friday, March 28th. Finally, Redburn Atlantic assumed coverage on shares of Spotify Technology in a research report on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price target for the company. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and an average price target of $564.45.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.